Common Wellness Benefits Offered by Health Insurance Plans

Health is the biggest wealth in the true sense. No matter how much money you have, you cannot enjoy the luxuries that money can buy if your health is not in a good condition. Despite that, our health has taken a backseat in today’s fast-paced and hectic world of minting money. To break out of this new normal, health insurance providers in India offer wellness benefits. Read on to know more.

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      Why Do Health Insurance Offer Wellness Benefits?

      Several health insurance providers today offer wellness benefits as part of their health plans and incentivize policyholders who lead a healthy lifestyle. They actually reward people for prioritizing their health and maintaining a healthy lifestyle. As a result, they encourage policyholders to watch what they eat, when they sleep and how fit are they. 

      In fact, the latest guidelines of the Insurance Regulatory & Developmental Authority of India (IRDAI) have also directed insurance companies to offer preventive health & wellness benefits under health insurance plans to promote fitness and healthy living. The regulatory body has allowed insurers to offer these wellness benefits as in-built covers as well as optional/ add-on covers.

      People also read: All You Need to Know About Health Insurance Wellness Programs

      How Do Wellness Benefits Work in Health Insurance?

      Typically, preventive health and wellness benefits are available in the form of wellness points or reward points under health insurance plans. The insurance company rewards the policyholder with points for staying fit, inculcating healthy habits and leading a healthy lifestyle. 

      The policyholders can redeem these points to get a discount on the renewal premium, pharmacy bills, consultation fees, etc. They can also be redeemed to avail services offered by network hospitals and empanelled service providers.

      The insurance companies clearly specify the various good health markers in the policy document for the policyholder’s reference. Once the policy period commences, they use digital devices and mobile applications to track these good health markers and monitor the progress of the insured.

      The wellness points are rewarded at periodic intervals or at least once a year based on the policyholder’s progress, such as on achieving a pre-specified milestone. For example, some insurers reward wellness points if the insured completes a fixed number of steps every day. 

      People Also read: Are Wellness Benefits in Health Insurance Useful?

      Common Wellness Benefits Under Health Insurance

      Check out some of the most common wellness benefits offered by health insurance providers in India:

      1. Preventive Health Check-ups

        Several health insurance providers offer preventive health check-up facilities as part of their wellness benefits. Policyholders get their preventive health check-ups done regularly allowing them to monitor their health and detect any health condition or disease at an early stage. 

        Policyholders can get these check-ups done at any of their network service providers, which are available free of cost or at a discounted price.

        Know more about Preventive Health Check-ups

      2. Discount on Healthcare Services

        Health and wellness points can be used to earn discounts on various healthcare expenses, such as OPD consultation or treatments, diagnostic tests, medicines, etc. These discounts can be availed at a network hospital or service provider of the insurance company. Moreover, they also offer redeemable vouchers that can be used to buy health supplements.

      3. Personal Wellness Coach

        Most health insurance plans provide a personal wellness coach to policyholders as part of their wellness benefits. The coach acts like a personal mentor who helps policyholders to adopt a healthy lifestyle and suggests a personalized course to achieve various health goals. For instance, the coach can help the policyholder to follow a customized diet plan or exercise routine and suggest ways to maintain a good BMI and quit bad habits, such as smoking.

        The wellness coach sets a realistic target for the policyholder to make a lifestyle change. The redeemable wellness points are rewarded when the policyholder achieves the set target. 

      4. Access to Health Maintenance Services

        Policyholders can also earn wellness points to earn a discount on health maintenance services. They can redeem these points to get a membership of various wellness centres, such as gyms, sports clubs, yoga centres, fitness centres, etc., at a discounted price. 

      5. Discounts on Renewal Premium

        Health and wellness points can be used to reduce the renewal premium of the health insurance policy. If the wellness benefit is available as an add-on cover, these points can be used to earn a discount on its renewal amount. While some plans allow policyholders to reduce their premium for up to a fixed limit, others enable them to save up to 100% on the premium amount if they earn a certain number of points.

      6. Second Medical Opinion

        Some health insurance plans also offer a second medical opinion to policyholders as part of health and wellness benefits. It enables policyholders to get a second opinion from a qualified medical professional for any critical disease or severe medical condition. The best part is that the policyholder does not have to pay for the consultation fees as it is taken care of by the insurance company.

      Summing It Up

      Preventive health and wellness benefits encourage policyholders to choose a healthy lifestyle. This is the prime reason why IRDAI has directed health insurance providers to offer various wellness benefits as part of their plans. So, make sure to check your policy document and go through the wellness benefits offered by your insurer. Do not forget to inculcate healthy habits and earn maximum points to make the most of them.

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      *₹1748/month is the starting price for a 1 crore health insurance for an 18-year-old male, with no pre-existing diseases. Discount on renewal premium is subject to the number of wellness points earned in the health insurance policy. For more details about the plans, please read the sale brochure carefully to get upto 100% discount on renewal premium.

      *₹400/month is the starting price for ₹ 5 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹541/month is the starting price for ₹ 10 lakh Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹762/month is the starting price for ₹ 1 Crore Health insurance for a 30 year old male & 29 years old female, living in Delhi with no pre-existing diseases

      *₹243/month(₹ 8/day) is the starting price for a 5 lakh health insurance for a 20-year-old male, non-smoker, living in Bengaluru with no pre-existing diseases

      *₹2020/month is the starting price for ₹ 1 Cr Health insurance for a 50 year old male & 50 years old female, living in Bangalore with no pre-existing diseases rounded off to nearest 10.

      *₹390/month (₹13 per day) is starting price for 1 cr. Health insurance for 25 years old male, with pre-existing diseases, residing from tier 1 city rounded off to the nearest 10.

      *No medical tests are required unless requested by the insurer’s underwriter. In-case of pre-existing diseases relevant medical proof would be required as per the terms and condition of the policy opted.

      *The values taken for effective cost calculation are indicative values and may change as per the selected plan.

      *Coverage upto double the amount of Sum Insured is available on certain covers for a minimum plan of Rs. 5 Lakh on the first claim only to an individual of upto 45 years of age with no pre-existing diseases. The benefit is available with or without extra cost depending on the plan chosen.

      *Coverage of pre-existing diseases is provided by insurer as per their underwriting policy.

      *The scope of coverage may vary from plan to plan.

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